Another feature I want to show you in QuickBooks is how to set your Closing Date.…The reason I have this categorized in the pitfalls section of this title is not so much that the feature itself is a pitfall.…It's that because no one really uses it and that's the pitfall. You should be using Closing Dates. First let me…explain what they are.…In accounting we have monthly transactions that are occurring.…When you record those transactions, generally you're looking at that period of time for information on your finances. And some people…review that information monthly, some people review that information quarterly, some people review that information annually.…

You're kind of forced to look at that information at least once a year at minimum for your tax purposes.…Once you file your taxes and you're starting your new fiscal year, you don't want to affect the data from the year…before. And if you have periods that are shorter than annually, let's say that you're reviewing financial statements…

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1/18/2008

In QuickBooks Pro 2008 Essential Training, instructor Suzanne Robertson explores the many powerful features of QuickBooks Pro, the popular accounting software that can be used for everything from handling personal expenditures to creating professional business account records. Suzanne covers organizing inventory and non-inventory items and using the automated EasyStep interview. She also demonstrates how to create and edit accounts, collect and pay sales tax, and handle invoices, vendor payments, and client refunds. Exercise files accompany the tutorial.

Note: QuickBooks Pro 2008 is not currently available for the Mac. If you are a Mac user you will be unable to open the exercise files for this tutorial, however you will still be able to watch the movies.